Voestalpine Expands into the Gulf Region

IndustrialsIndustrial Goods ♦ Published: November 16, 2010; 13:55 ♦ (Vindobona)

The Austrian steel group will manufacture rail components for Saudi Arabia over a joint venture.

Voestalpine Expands into the Gulf Region / Picture: © Voestalpine AG

The Railway Systems Division of the Linz-based steel group Voestalpine expands for the first time to the Gulf region. Through a joint venture with the Al Mobty group, VAE Hightech will manufacture switches for Arab railway lines. The company from Linz will have a stake of 51% in the joint venture.

Initially around three million euro will be invested in the plant with 50 new…